BioCardia shares are trading lower after the company announced the pricing of an upsized $7.2 million offering of 2.4 million shares and warrants at $3.00 per share and accompanying warrant.
Portfolio Pulse from Benzinga Newsdesk
BioCardia shares fell after the company announced a $7.2 million offering of 2.4 million shares and warrants at $3.00 each.
August 30, 2024 | 7:46 pm
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BioCardia's stock price declined after announcing a $7.2 million offering of shares and warrants at $3.00 each, which may dilute existing shareholders.
The announcement of a share offering typically leads to a decrease in stock price due to potential dilution of existing shares. The offering price of $3.00 per share may also be perceived as undervaluing the stock, contributing to the decline.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100